BME expands compliance tools ahead of MiFID II

BME to act as an APA, ARM and offer systematic internaliser services.

Bolsa de Madrid (BME) will extend its compliance services for reporting and the systematic internaliser regime ahead of MiFID II.

The expansion will allow BME to act as an approved publication arrangement (APA), authorised reporting mechanism (ARM) and provide systematic internaliser tools.

The APA service will allow financial institutions to meet post-trade transparency requirements through the exchange, which will then publish details of its clients OTC transactions.

BME will also help firms identify as a systematic internaliser for specific instruments and publish firm quotes on those instruments for each client.

A communication service will be added to the exchange - which will act as an ARM detailing transactions to regulators as required by MiFID II.

MiFID II will come into force on 3 January 2018.

The TRADE will be hosting its latest MiFID II pop-up event on systematic internalisers on 27 February in London.

To register to attend, please click here.